Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Process costing: number of units completed and transfered, total equivalent units of production, cost per equivalent unit, total costs of units completed and transfered, ending

Process costing: number of units completed and transfered, total equivalent units of production, cost per equivalent unit, total costs of units completed and transfered, ending work-in-process.

image text in transcribed

We have to use this template though

image text in transcribed

This is for a review im doing, if you could show your work I would appreciate it. Im going to be using this to check against the work im doing, and I want to know how to fix something if i get it wrong. If you could make it easy to determine what answer goes where i woudl appreciate it. Thank you!

Question 2: Process Costing The following data refer to a production center of Coca-Cola, a soft drink bottler: Work in Process Inventory, August 1, 8.000 units (units equal 12-bottle cases Direct materials 15,000 Direct labor 8.500 Manufacturing overhead applied 5.500 29.000 Units started in August 12,000 Costs incurred in August. Direct materials 30,000 Direct labor 48.000 Manufacturing overhead applied 21,250 The beginning inventory was 100% complete for materials and 45% complete for conversion costs. The ending inventory on August 31 consisted of 5,000 units (100% complete for materials, 40% complete for conversion costs) Compute the following: 1. Number of units completed and transferred to finished goods inventory 2. The total equivalent units of production for materials and conversion costs using the average cost method a. Materials b. Conversion 3. Cost per equivalent unit for materials and conversion costs: a. Materials b. Conversion 4. Total cost of units completed and transferred to finished goods inventory: 5. Total cost of ending work. process inventory

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Process Approach Audit Checklist For Manufacturing

Authors: Karen Welch

1st Edition

0873896440, 978-0873896443

More Books

Students also viewed these Accounting questions